MBP had a wild run on 5/7/04 from low of 1 to 1.65, with following announcement:

Increasing awareness in US markets in preparation for 2005. Yesterday we announced the issuance of a research report from a US-based research group. The early issuance of the report on the US company&amp;#8217;s website came as a surprise to us and in the circumstances we felt it was appropriate to alert the market to its existence and provide access to the report. The opinions expressed in the research report are welcome. This research report forms part of a strategy to increase awareness in the US markets in preparation for substantially increased interest in our company if the clinical trial on AOD9604 is successful. We believe increased US awareness will help us gain maximum value from positive results and provide us with a strong position to negotiate with international pharmaceutical companies. Our recent trip to New York, where we presented to US biotech investors, met with much enthusiasm. In addition to interacting with firms providing analyst reports on the Company, we are also working with a New York based technology investment firm and other consultants who have introduced the company to excellent US contacts, potential investors and investment banks. Remuneration is in the form of cost reimbursement and the unquoted MBPAU options granted for investment banking and research publication services announced in March 2004, having an exercise price of $1.25. Preparations are currently under way to place the formal documents in order for a potential NASDAQ listing in 2005 on positive results. As outlined in our June shareholder update, the Phase 2b trial on AOD9604 is being conducted in 300 obese adults at five Australian clinical trial sites. Results are still on schedule to be known and released in November. About Metabolic Metabolic Pharmaceuticals Limited is a biotechnology company based in Melbourne, Australia, and listed on the Australian Stock Exchange (ASX: MBP). The Company&amp;#8217;s mission is to develop a pipeline of new pharmaceuticals for world markets, and currently has programs aimed at treating obesity (AOD9604 in Phase 2b human trials),neuropathic pain (ACV1 in preclinical toxicology), and type 2 diabetes. Further details are available at www.metabolic.com.au. Contact Information: Ph +61 3 9860 5700 Chris Belyea CEO chris.belyea@metabolic.com.au David Kenley VP Corporate Development david.kenley@metabolic.com.au

Since then it fell equally sharply till taday's close of 1.14. Interesterly, it opened lower taday at 1.13,high 1.19, producing a reversal signal-reverted hammer. She'll have chance to go higher if Monday can confirm the reversal.

MBP was trading sideway at around $0.90 mark for a long time, even though the hammer signal shown at around $1.10 I am still a bit worry there because of $0.20 different which is equivalent to about 20%.

MBP got life today after 4 day's sideline. She opened 1.12, high 1.22 and closed at 1.21 with above avarage volumn of 1.5m. She should rise from now on. I post intraday chart here, and later, I'll post EOD chart for further analysis.

Now, let's have look the daily chart of MBP. A big white candle today just confirmed the reversal and she is looking promising with 1st target 1.51 of last year high(26/8/03) and 1.65 may reach. Any comments is most welcome, which is tis forum for. I do hope there will be more people to post to discuss particular stocks and analyse any possible outcome. In the end, trading is just art not SCIENCE, and using the most powerful weapon-stop-loss, you could achieve the ideal outcome and win more with less loss.

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Dutchy3 I've picked this share for the competiton this month,but in all honesty the price is cheap for me to consider buying another slice of this cake(no pun intended). Presently the news from MBP is all positve.It's just the time killing wait for results on their experiments etc etc etc ,a sleeper for the time being a BIG YES ,but I reckon the potential in this company outweights the current price. Contemplate a super bargain at .385 cents thats what I have been looking at closely ,wishful thinking no doubt !!!!!

40 does look like it's going to hold at this point. I'm not one to buy and hold so I will need to see this stock show it's potential before I enter. As usual the very best breakout stocks signal by a BIG WHITE into NEW AIR on relatively heavy volume.

In the past this one has signalled its intent very clearly when the fast moves have materialised. I could do with a quick (week) 100 - 250% about now!

I can hear what you guys are saying, but the Biotechs and Pharmacueticals are way out of favour with traders at the moment. A lot of people (including me!) have been burnt by MBP and others such as NRT, PSD, VCR etc etc. Unless you have inside info of an impending announcement, you could be waiting a long time to see any significant improvement in the MBP share price. I have been following MBP for a long while and although they would appear to have a great deal of potential, I see no reason why this one will budge from the 40c mark in the short term. Unfortunately, good news from these companies is few and far between, simply by nature of what they do. Clinical trials and drug approvals take years to complete and therefore the commercial viability of their product is not really known. Real pie in the sky stuff. Sure you might get lucky in the long term, but be prepared to get disappointed if you are trying to make a quick buck. Do your research.....

..........I think no side effects etc etc are a plus......Mind you there might be side affects when the share hits the weighting scales next march! happy reading .......Read on :

ASX Announcement ASX code: MBP Metabolic’s obesity trial update: First 100 subjects complete the Phase 2B trial of AOD9604 • The first 100 subjects have now completed the Phase 2B OPTIONS Study including 24 weeks of daily oral dosing of obesity drug, AOD9604 • The last subject will complete the trial ahead of schedule in December 2006 with results expected to be announced in March 2007 Melbourne, 5 October 2006: Metabolic Pharmaceuticals Limited (Metabolic) announced today that the first 100 subjects have completed the Phase 2B OPTIONS Study for obesity drug, AOD9604. The OPTIONS Study is designed to assess weight loss at lower doses of AOD9604 than previously tested. The OPTIONS Study reached full recruitment with 536 subjects ahead of schedule in late April this year and as a result, the study will also finish ahead of schedule, in December 2006. The OPTIONS Study includes 24 weeks of randomised double-blind drug or placebo treatment, with the primary endpoint of weight loss at 12 weeks. More than 100 subjects have already completed the full 32-week protocol, and all remaining subjects will have completed the trial in December 2006. Metabolic expects to announce the results of the study in March 2007, once the database is finalised, the blind is lifted and the data analysed. Dr Roland Scollay, CEO of Metabolic, commented “we are very pleased with the clinical progress of our obesity drug. AOD9604 has shown no negative side effects in studies completed so far and is the only obesity drug in advanced development with a primarily metabolic mode of action. Furthermore, the previous study showed no evidence of the post-treatment weight rebound that is typical of other weight loss drugs. The potential commercial benefits of these competitive advantages are significant”. Background to AOD9604 and obesity AOD9604 is an orally active, 16-amino acid, peptide drug, based on a fragment of human Growth Hormone (hGH). AOD9604 has undergone numerous safety and tolerability checks through human clinical trials, and a previous Phase 2 efficacy trial demonstrated a very competitive 2kg weight loss more than placebo over a 12 week period, as well as other benefits such as improved cholesterol profile. The drug’s competitive advantages are its good safety and side effect profile and its novel mechanism of action - AOD9604 addresses metabolism (fat burning) rather than acting as an appetite suppressant. The current global market for prescription obesity drugs is estimated at approximately US$1 billion a year with very high growth forecast, estimated to reach US$10-30 billion a year if safe and effective weight loss drugs become available. Previous announcements regarding this trial, made on 18 October 2005, 23 January 2006, 2 May 2006 and 19 July 2006 are available at www.metabolic.com.au following the tabs to Investor Relations. The complete trial design is included in the appendix to this announcement. - ENDS - Page 2 of 3 Appendix: the OPTIONS Study trial design Number of subjects: 536 subjects enrolled, approximately equal number of men and women Subject selection criteria: BMI* (Body Mass Index) 30-45 kg/m2; Age 18-65 years; and A waist circumference of more than 102 cm for males and 95 cm for females, in otherwise healthy subjects. Expected completion date: Last subject will complete the study in December 2006, results expected in March 2007 Blinding status: Double-blinded (neither treating doctor, nor subject, nor Metabolic knows whether the subject is receiving drug or placebo) Placebo controlled: Yes (one group receives only placebo – a tablet that looks the same as AOD9604 but has no drug content) Treatment route: Oral (tablets) Treatment frequency: Once per day Dose level: Dose groups of 0, 0.25, 0.5 and 1 mg (the 0 group is the placebo group) Primary end points: Weight loss over 12 weeks of treatment for any one of three daily AOD9604 oral doses of 0.25 mg, 0.5 mg and 1 mg compared to placebo; and Safety and tolerability. Secondary end points: Weight loss over 24 weeks of treatment; Comparison of the effects of the three different dose levels; Waistline reduction over 24 weeks of treatment; Body fat reduction assessed by whole body scans; and Improvement in risk factors such as glucose control and lipid profiles over 24 weeks of treatment. Trial sites: 16 clinical trial sites throughout Australia Contract Research Organisation: Kendle Pty Limited Page 3 of 3 About Metabolic Metabolic Pharmaceuticals Limited (ASX: MBP, NASDAQ OTC: MBLPY) is a Melbourne based, ASX listed biotechnology company with 285 million shares on issue. The Company employs 24 staff and is led by an experienced and proven management team. Metabolic’s main focus is to take innovative drugs, with large market potential, through formal preclinical and clinical development. Metabolic’s expertise in drug development has resulted in two high value drugs in advanced human clinical development, namely: - AOD9604 - an obesity drug currently in a Phase 2B trial with results expected in March 2007; - AOD9604 - additional use in osteoporosis with a Phase 2 trial expected to commence in 2007; and - ACV1 - a neuropathic pain drug currently in Phase 2A trials. These drugs address multi-billion dollar markets which are poorly served by existing treatments. In addition to its lead drugs, Metabolic has an exciting research pipeline with drugs targeting type 2 diabetes (ADD) and nerve regeneration (NRPs). Metabolic is also developing a platform to enable oral delivery of existing injected peptide drugs, a technology which has already shown proof-of-concept. This has high potential for use by other companies developing peptide drugs and could foster multiple out-licensing deals. Metabolic plans to license its lead drugs to a global partner following Phase 2 trials and will continue to utilise its clinical development expertise to drive future company growth and profits For more information, please visit the company’s website at www.metabolic.com.au. Background information on the drug development process The steps required before a drug candidate is commercialised include: 1. Discovery or invention, then filing a patent application in Australia and worldwide; 2. Pre-clinical testing, laboratory and chemical process development and formulation studies; 3. Controlled human clinical trials to establish the safety and efficacy of the drug for its intended use; 4. Regulatory approval from the Therapeutic Goods Association (TGA) in Australia, the FDA in the USA and other agencies throughout the world; and 5. Marketing and sales. The testing and approval process requires substantial time, effort, and financial resources and we cannot be certain that any approvals for any of our products will be granted on a timely basis, if at all. Human clinical trials are typically conducted in three sequential phases which may overlap: Phase 1 Phase 2 Phase 3 Initial safety study in healthy human subjects or patients. Phase 1 trials usually run for a short duration. Studies in a limited patient population designed to: - identify possible adverse effects and safety risks in the patient population (2A); - determine the efficacy of the product for specific targeted diseases (2B); and - determine tolerance and optimal dosage (2B). Trials undertaken to further evaluate dosage and clinical efficacy and to further test for safety in an expanded patient population in clinical study sites throughout major target markets (e.g. USA, Europe and Australia). Contact Information Roland Scollay Chief Executive Officerroland.scollay@metabolic.com.au T: +61-3-9860-5700 Peter Dawson Chief Financial Officerpeter.dawson@metabolic.com.au T: +61-3-9860-5700 Diana Attana Assistant Company Secretary/IROdiana.attana@metabolic.com.au T: +61-3-9860-5700

This company should be sitting pretty in the long term look. I think it has a big future with the worst of its stock price behind it. A big future player and a worth while punt and a stock that will pay well in the future. i think it has hit its rock bottoom (if any luck!!!!)

This company should be sitting pretty in the long term look. I think it has a big future with the worst of its stock price behind it. A big future player and a worth while punt and a stock that will pay well in the future. i think it has hit its rock bottoom (if any luck!!!!)

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There many people like yourself that are perched on the fence waiting for possibly feb/07 ....interesting period ,& for those who have to break open their piggy banks come march 07. Just imagine how the junk food market,will embrace MBP....all of a sudden Mackers might be healthy due to MBP ,why jog -fitness centers will close down, sport will be a bygone era,its sounds so Orwellian

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Dutchy I bought a wheelbarrow load last week.....Come next year 2007 this share might go like BTA did when it reached $9 marks. Mind you i'm not touting that will happen but it has the same scales of acheivement. This share will drop back I'm sureof it ,but to buy at 39 cents forget it! Happy snapper hunting just reel them in.

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